Banking News

Part of the Florida Bankers Association's mission is to inform the public about the good our member banks do for their community and for the state. Whether that means sharing stories about how Florida banks make dreams come true every or responding to false allegations about our industry, it is imperative that the FBA work with the news media to ensure that the voice of Florida banking is heard loud and clear.

Thankfully, the FBA is one of few associations throughout the country that is regularly sought for opinions and discussion when it comes to the financial services industry. It is a role the Association takes very seriously. Below is a list of recent articles in which the FBA is involved that you may find to be of interest. Be sure to check back regularly as this list will be regularly updated.

For more information about the FBA's media communication, contact Renee Thompson by email or at (850) 224-2265.

“Florida Bankers Association President and CEO Alex Sanchez sees the lessening of bank regulations as a positive move for the local economy at large. He said, ‘Publix is in the business of selling food. We’re in the business of making loans and providing the capital to businesses so they can start and hire employees.’”

“Florida Bankers Association President and CEO Alex Sanchez sees the lessening of bank regulations as a positive move for the local economy at large. He said, ‘Publix is in the business of selling food. We’re in the business of making loans and providing the capital to businesses so they can start and hire employees.’”

Dream TeamDecember 15, 2017 Business Observer“An all-star team of area bankers gathered in late October to talk about an issue close to their hearts, and careers: the future of banking.

“A plan that equalizes the tax playing field for businesses — not only with global competitors, but also here at home — will help strengthen American companies. Government should not be picking winners and losers; it should treat all industries the same.”

Battle Lines Drawn Over Credit Union Tax Break in Reform FightSeptember 11, 2017 Tax AnalystsSanchez made a similar argument: “Government should not be picking winners and losers in the free enterprise system . . . and that’s what we’re doing with credit unions.” He also placed the exemption in the context of tax fairness and paying for the country’s fiscal needs, accusing Navy Federal Credit Union, which extends membership eligibility to members of the military and veterans (and their families), of “not paying for the defense of this country . . . because you don’t pay state and federal corporate income taxes and you’re a $60 billion financial institution.”

How tech is helping banks prepare for IrmaSeptember 6, 2017 America Banker Many Florida bankers are hurricane veterans, including three storms in 2004 and Matthew last year. Banks have plans they can activate in times of a natural disaster. A number of banks have already held meetings to prepare for Irma. “Our bankers have no hurricane parties. That ended a long time ago,” said Alex Sanchez, president and CEO of the Florida Bankers Association. “Bankers have plan A, B and C to serve their communities.”

Florida and California Bankers, Far Apart but Flying TogetherAugust 29, 2017 Bloomberg BNABankers in California and Florida may have a continent between them, but that’s not getting in the way of an annual pilgrimage to Washington, where both groups lock arms and make common cause in meetings with policymakers.

Bank risks federal scrutiny, does business with marijuana growersAugust 2, 2017 Palm Beach Post
Alex Sanchez, head of the Florida Bankers Association, lauded First Green Bank for pushing into an untested industry. “To their credit, they have checked every box,” Sanchez said. “They have done an incredible amount of due diligence to get to this point.”

Top bankers drive economy, community and cultureJuly 28, 2017 South Florida Business Journal
Yes, South Florida’s banking and finance executives help drive our economy. But they also reflect who we are as professionals and community citizens across the tri-county region.

Anti-money laundering efforts examined at House subcommittee hearingJuly 6, 2017, Financial Regulation News
Lloyd DeVaux, president and CEO of Sunstate Bank, said the world has drastically changed since the BSA was adopted in 1970. “Criminals keep evolving and staying one step ahead of banks and law enforcement. As the United States takes steps to combat terrorism and financial crime, now would be a good time to update the compliance requirements to develop a system suited to the twenty-first century,” DeVaux said, speaking on behalf of the Florida Bankers Association. More...

Florida Banker: BSA/AML Rules Must Change with the TimesJune 28 2017, ABA Banking Journal
The regulatory framework put in place to prevent money laundering and stop the financing of terrorist activity should be updated to reflect the changes that have taken place over the past several decades, banker Lloyd DeVaux, president and CEO of Sunstate Bank in Miami, Fla., said today in a hearing before the House Financial Services Committee. More...

‘Proud Moments’April 21, 2017, Business Oberver
In addition to Pilot, Lowman has another significant job — and proud moment — as incoming chairwoman of the Florida Bankers Association, one of the more prominent lobbying and advocacy groups in the state. Lowman, when she’s installed in June, will be the third woman in the history of the 130-year old group to hold the chair position.

Low inventory pinches Tallahassee housing marketMarch 27, 2017, Tallahassee Democrat
Alex Sanchez, president and CEO of the Florida Bankers Association, said interest rates will continue to pick up if the economy remains strong. “Now, will they go from 4 percent to 8 percent in a month? No. In a year? No. But they will go up,” Sanchez said. “The economy is doing well and the Federal Reserve Bank wants to control inflation so they will tinker with usually a quarter point.”

Bankers wary of credit union bill in Florida LegislatureMIami Today, March 21, 2017
Bankers are closely watching bills that are making their way through the 2017 legislative session. At the top of the list for many is Senate Bill 1170, which would allow credit unions to become qualified public depositories if they meet certain requirements. That means they could receive municipal funds for deposit. “Our guys are totally against it,” said Anthony DiMarco, executive vice president of governmental affairs for the Florida Bankers Association. “To us, it’s ironic that they’re taking in tax money, and loaning it back out, when they don’t pay taxes.”

POINT OF VIEW: Credit unions twist truth in attempt to expand powersPalm Beach Post, March 17, 2017
“There is room for both credit unions and banks to compete and thrive, but we should do so on a level and fair playing field. Why don’t large credit unions pay taxes to support the needs of our state and nation, like the war on terror, defense needs, the needs of our children and seniors, our transportation needs, and all the other needs we have? Banks do.”

Credit unions' free rideTampa Bay Timess, March 07, 2017
“It is the height of irony that the credit unions are asking the government to let them accept public deposits, which are the same tax revenues that they do not contribute. Why should the government create a more unlevel playing field by letting credit unions hold these tax revenues? Until credit unions pay their fair share of taxes, the government should not pick winners and losers in the economy and credit unions shouldn't be able to accept taxpayers' public deposits.”

In particular, the Court referenced the amicus brief filed by the Florida Bankers Association, which noted that foreclosure lawsuits are unlike typical civil lawsuits, as “much remains to be accomplished after entry of final judgment, including the foreclosure sale, the issuance of certificates of sale and title, and, in many instances, the prosecution of a deficiency claim, all under court supervision.”

Credit union loophole should be first casualty in tax reformAmerican Banker, January 20, 2017As our nation swears in its 45th president, many of the big public policy issues relate to the nation’s finances. How does the U.S. maintain its strength when it is saddled with a $20 trillion national debt? We can start by putting credit unions’ tax exemption on the chopping block.

Briefcase: BankingTallahassee Democrat, January 15, 2017The Florida Bankers Association recently hired Katie Crofoot as Assistant Vice President of government affairs. She will advocate on behalf of the FBA at both the state and federal levels, while also collaborating with BankPac to support Florida’s pro-business candidates.